Luxembourg Launches Business-Focused National Space Agency

The Luxembourg Space Agency (LSA) officially launched operations today
with the goal of promoting the further economic development of the Grand
Duchy’s space industry by attracting businesses, developing human
resources, providing innovative financial solutions and supporting
educational and research infrastructure.

Under the authority of the Ministry of the Economy, the agency is
partnering with leading national academic, research and business
organisations and communities as well as other public institutions
within Luxembourg’s extensive ecosystem of public- and private-sector
stakeholders.

For more than three decades, Luxembourg has been at the forefront of
commercial and co-operative initiatives that have shaped a vibrant space
economy. Its greatest success has been the creation in 1985 of the
government-supported SES (Société Européenne des Satellites),
today the world’s largest commercial satellite operator. Further
space-related services and businesses have developed alongside SES, and
today commercial space activity accounts for nearly 2% of GDP, among the
highest ratios in Europe.

In 2005, Luxembourg joined the European Space Agency (ESA) as a full
member, laying the foundation for participation by the Grand Duchy’s
companies in ESA R&D programmes and space exploration projects. The most
recent step by the Ministry of the Economy was the launch in 2016 of the SpaceResources.lu
initiative, positioning the country as a pioneer in the exploration and
utilisation of space resources as a step toward the in-space economy of
the future.

To fund space innovation, the Luxembourg Space Agency is establishing
with other partners a venture capital vehicle to be established as a
reserved alternative investment fund, with financial backing from the
public sector as well as private investors. The Luxembourg Space Fund
targets an initial 100 million EUR in capital, its goal is to provide
equity funding for new space companies with ground-breaking ideas and
technology.

Luxembourg’s Deputy Prime Minister and Minister of the Economy, Étienne
Schneider, says: “Building on Luxembourg’s longstanding support for the
space industry through a combination of policy, programmes and funding,
the agency will further encourage innovation-driven space
entrepreneurship and promote this country as Europe’s platform for
commercial space development and a home for cutting-edge industries.
Luxembourg is ready to welcome, support and assist the development of
space industry players that can move forward together.”

ESA Director General Jan Wörner says: “I congratulate Luxembourg on this
very important step in its space history. With its wide range of
services and expertise, ESA is continuing its strong co-operation with
the Grand Duchy. Collaboration between the Luxembourg Space Agency and
ESA can be a very good opportunity for Europe by pooling our
capabilities in a network of space agencies that embodies the European
ideal in space.”